“Michelle Long has created a very comprehensive guide for

anyone considering starting a QuickBooks Consulting business.

Her use of real-life examples and the fact that she has used her
own experiences along with those of other leading QuickBooks
Consultants is very compelling.”

Alison Ball
Senior Program Manager, Accountant Training Network
Intuit Inc.

“Sharing best practices is what Michelle Long does best -

whether it's teaching QuickBooks in the classroom or sharing
her tips in this comprehensive guide to building a successful
QuickBooks consulting business. And the best part is: Michelle
actually practices what she preaches - in her own consulting
business. Michelle's guide is chock full of practical how-to's and
is the perfect first step for anyone contemplating starting a
QuickBooks consulting business.”

Cheri Streeter, MBA and Small Business Development

Center Director, Overland Park, KS

“Michelle's book gives so much useful information. I only wish it

was available when I started my practice years ago.”

Liz Alexander, CPA

Member Intuit Certified Trainer Network
Advanced Certified QuickBooks ProAdvisor

“The best way to prepare yourself for a rewarding career, is to

do your homework (read about, survey and learn from others)
this book is all of that….”

Dawn Scranton
Accounting Directors, Inc.
Advanced Certified QuickBooks ProAdvisor
 Successful
QuickBooks
Consulting

The Comprehensive Guide to

Starting and Growing a
QuickBooks Consulting Business

Michelle L. Long, CPA, MBA

Successful QuickBooks Consulting

Successful QuickBooks Consulting

Author: Michelle L. Long, CPA, MBA

Editor: Cheri Streeter, MBA

Publisher: CreateSpace Publishing, Scotts Valley, CA

All rights reserved. No part of this book may be reproduced or

transmitted in any form or by any means, electronic or mechani-
cal, including photocopying, recording or by any information
storage and retrieval system without written permission from the
author, except for the inclusion of brief quotations in a review.

Copyright © 2007 by Michelle L. Long

Printed in the United States of America

ISBN: 1434810690

EAN-13: 9781434810694
Trademarks: Intuit, QuickBooks, QuickBooks Pro, QuickBooks Premier,
QuickBooks Online Edition, QuickBooks Enterprise, QuickBooks Point of
Sale, Simple Start, QuickBooks Pro for Mac, Quicken, ProAdvisor, Quick-
Books ProAdvisor Program, Certified ProAdvisor, ProConnection and all
other QuickBooks references are all trademarks or registered trademarks of
Intuit, Inc. Microsoft Windows, Word, Excel, PowerPoint, Publisher, Outlook,
Office Accounting 2007, Office Accounting Express 2007 are all trademarks
or registered trademarks of Microsoft, Inc. Macintosh (Mac) is a registered
trademark of Apple, Inc. Peachtree is a registered trademark of Sage
Software. FastTrac and FastTrac New Venture are trademarks or registered
trademarks of the Ewing Marion Kaufman Foundation. Ebay is a trademark
or registered trademark of Ebay, Inc. All other brands or products are the
trademarks or registered trademarks of their respective holders and should
be treated as such.

Author: mlong@mlongconsulting.com or www.mlongconsulting.com

ii
 Disclaimer/Limitation of Liability

Disclaimer/Limitation of Liability
This book is designed to provide accurate and authorita-
tive information about the subject matter covered. It is sold with
the understanding that the publisher and author are not render-
ing legal, accounting, or other professional advice. If such
professional advice is needed, then the services of a competent
professional should be sought.

While efforts have been made to ensure the accuracy

and completeness of the information provided in this book, there
may be typographical mistakes and/or mistakes in content.
Therefore, this book should be used only as a guide and not as
the only source of information of the subject matter covered.

The purpose of this book is to educate and provide in-

formation and resources about the subject matter covered. The
author specifically disclaims all warranties or any liability or
responsibility to any person or entity with respect to any loss or
damage caused or alleged to be caused directly or indirectly by
the information contained in this book. The fact that a company,
organization, or website is mentioned in this book as a resource
for further information does not mean that the author endorses
the information, products or services provided by the resource.
The resources mentioned should be researched and evaluated
by the reader and the author is not liable for any information,
content provided by those resources mentioned

If you do not wish to be bound by the above, you may re-

turn this book to the publisher for a full refund.

iii
Successful QuickBooks Consulting

iv
 Foreword

Foreword
In Stephen Covey’s highly acclaimed book, The 7 Habits
of Highly Effective People, he defines Habit 2 as “Begin with the
End in Mind.” Later in his expanded discussion of this concept,
he states, “The extent to which you begin with the end in mind
often determines whether or not you are able to create a suc-
cessful enterprise. Most business failures begin in the first
creation, with problems such as undercapitalization, misunder-
standing of the market, or lack of a business plan.” In this
comprehensive guide to building a successful business (that just
happens to be specific to QuickBooks consulting), Michelle
Long embraces this principle defined by Covey back in 1989.

In her concise, conversational tone, Michelle guides the

prospective consultant to start and grow a successful consulting
business. Based on her personal experience and research, she
discusses financing, defining the right target market, and acquir-
ing and increasing your knowledge base. Throughout the guide,
Michelle shares her best practices, and although the guide is
specific to building a consulting business around QuickBooks,
many of the principles apply universally to business in general.

The end that Michelle envisions is the success of indi-

viduals willing to invest the energy and passion into creating
their own consulting business. This guide is a beginning to
achieving this end.

Cheri Streeter, MBA

Director, Small Business Development Center
Overland Park, Kansas

v
Successful QuickBooks Consulting

vi
 Acknowledgements

Acknowledgements
I would like to personally acknowledge and express my
gratitude to some of those who have contributed to this book:

Cheri Streeter – Her excellent editing skills allowed me to

focus on writing. She provided good feedback and kept me
focused when I needed it most! She also has given me the
opportunity to teach QuickBooks seminars through the Small
Business Development Center for many years!

Alison Ball – She provided the encouragement I needed

to finish the book. After reading a draft of the book, she pro-
vided numerous, beneficial suggestions to help improve the
content.

ProAdvisors from across the country – Those who took a

few minutes out of their busy day to respond to the survey
provided a wealth of information. They shared insightful advice,
quotes, and keys to success,

Dawn Scranton and Liz Alexander – Both Dawn and Liz

graciously agreed to be interviewed (recorded and transcribed)
and featured in the Profiles of Successful QuickBooks Consult-
ants.

All my clients and seminar attendees – They do not

realize how much I truly enjoy being able to help them either
with QuickBooks or starting and growing their businesses!

Finally, and most importantly, I want to thank my hus-

band, Steve, and my children, Andrew and Jessica, for being so
patient and understanding while I worked on my book!

vii
Successful QuickBooks Consulting

viii
 About the Author

About the Author

Michelle L. Long, CPA is the owner of M. Long Consult-
ing, LLC, which provides QuickBooks consulting and training,
business planning and financial consulting to growing busi-
nesses and entrepreneurs. She is an Adjunct Professor of
Entrepreneurship at Johnson County Community College in
Overland Park, Kansas and previously at University of Missouri
– Kansas City in Strategic Management and Accounting Sys-
tems and Controls courses.

She is an Advanced Certified QuickBooks ProAdvisor, a

member of the Certified Trainer Network for Intuit, and a mem-
ber of the Intuit Speakers Bureau. She facilitates seminars
nationally for Intuit’s Accountant Training Network. Michelle
also conducts a variety of seminars for entrepreneurs and small
business owners for both the Missouri and Kansas Small Busi-
ness Development Centers as well as serves as guest speaker
for many non-profit organizations.

Michelle was named a U.S. Small Business Administra-

tion’s Financial Services Champion of the Year for 2007 in
recognition of her dedication to helping entrepreneurs and small
business owners.

Michelle is a Certified FastTrac Facilitator and has facili-

tated the Ewing Marion Kauffman Foundation’s FastTrac
NewVenture program and Listening to Your Business workshop.

Before starting her own consulting practice, Michelle

worked with Price Waterhouse, an international public account-
ing firm; Baird, Kurtz & Dobson, a regional public accounting
firm; and Hallmark Cards, Inc. She earned a Bachelor of Sci-
ence in Accountancy degree from University of Missouri-
Columbia, and an MBA in Entrepreneurship from UMKC.

ix
Successful QuickBooks Consulting

x
 Table of Contents

Table of Contents

Introduction........................................................................................... 1
National Survey of Certified ProAdvisors........................................ 5

Chapter 1 - Why Specialize in QuickBooks? ...................................... 7

Increasing Number of Potential Clients............................................ 7
New businesses ............................................................................. 7
Existing businesses ....................................................................... 8
Opportunities to Provide Services .................................................... 9
Why QuickBooks vs. Other Programs? ........................................ 9
Industry Leader ......................................................................... 9
QuickBooks ProAdvisor Program (PAP) ............................... 10
Microsoft’s accounting programs ........................................... 11
Peachtree by Sage ................................................................... 11
QuickBooks Consulting with Other Accounting Services.............. 12

Chapter 2 - The Role of the QuickBooks Consultant ......................... 15

Service Opportunities...................................................................... 15
Software selection....................................................................... 15
Installation, set-up, and initial training ....................................... 16
Training – owner and staff members .......................................... 17
Problem solving and trouble shooting ........................................ 19
Periodic support or review .......................................................... 20
Liaison with Accountant or Tax Preparer....................................... 21
Clean up file for year end............................................................ 21
Assist with adjusting journal entries ........................................... 21
Assist with requests from accountant ......................................... 22
When you are the accountant...................................................... 22
Consulting – Systems and Procedures ............................................ 22
New businesses ........................................................................... 22
Growing businesses .................................................................... 23
Consulting on Managerial Accounting Issues ................................ 23
xi
Successful QuickBooks Consulting

Custom fields for customers, items, and vendors ....................... 23

Reports to help with decision making, marketing, and financial
analysis........................................................................................ 24
Budgeting and planning .............................................................. 24

Chapter 3 - Are You Ready to Go on Your Own?.............................. 27

Personal Characteristics .................................................................. 27
Education and Expertise ................................................................. 29
Financial Considerations................................................................. 31
Start-up costs............................................................................... 31
QuickBooks ProAdvisor Program – $450 .............................. 31
Computer – $500 - $2,000 ...................................................... 32
Office Software – $300 - $700................................................ 33
Office Furniture and Equipment – $100 +.............................. 33
Business Cards and Website – $50 - $5,000........................... 33
Other Business Costs – $50 - $2,000 ...................................... 34
Income considerations ................................................................ 35
Family and Personal Issues............................................................. 36
Family support ............................................................................ 36
Time commitment and hours ...................................................... 37
Pros and Cons of Being Your Own Boss........................................ 38
Pros ............................................................................................. 38
Cons ............................................................................................ 39
Start-up Stories of Other Consultants ............................................. 40

Chapter 4 - Improve Your Knowledge Base....................................... 41

Use QuickBooks in Your Own Business ........................................ 41
QuickBooks ProAdvisor Program .................................................. 42
Certifications Available .............................................................. 42
Practice Files............................................................................... 43
Resources .................................................................................... 44
Gain Experience.............................................................................. 46
Work for Another ProAdvisor .................................................... 46
Volunteer for Non-Profits ........................................................... 47
Discount Initially ........................................................................ 47

xii
 Table of Contents

Chapter 5 - Setting up Your Business................................................. 49

Types of Entities ............................................................................. 49
Steps to Getting Started .................................................................. 51
Federal ID Number ..................................................................... 51
Bank Account and Credit Card ................................................... 51
Business Licenses and Permits ................................................... 52
Insurance ..................................................................................... 52
Set Up Your Office ......................................................................... 52
Business Phone Line ................................................................... 53
Software Required ...................................................................... 53
Website and E-mail..................................................................... 54
Equipment, Furniture, and Supplies............................................ 55
Write a Business Plan ..................................................................... 56

Chapter 6 - Financial Matters ............................................................. 57

Create a Budget............................................................................... 57
Project Income ............................................................................ 57
Expenses ..................................................................................... 58
Estimated Taxes .......................................................................... 58
Keep Business and Personal Separate............................................. 59
Manage Cash Flows – Billing and Collecting ................................ 59
Accept Credit Cards.................................................................... 60
Tax Considerations ......................................................................... 60
Mileage and Other Expenses .......................................................... 61

Chapter 7 - Define Your Services and Billing Rates .......................... 63

Services Provided............................................................................ 63
Intuit’s Annual Billing Rate Survey ............................................... 65
Personal Credentials and Expertise................................................. 65
Local Market................................................................................... 67
Rural vs. City .............................................................................. 67
Competition – Other ProAdvisors .............................................. 68
Client Considerations...................................................................... 69
Services Provided............................................................................ 69
Hourly vs. Fixed Fee....................................................................... 70

xiii
Successful QuickBooks Consulting

Packaged or Pre-paid Services.................................................... 70

Pros and Cons – Hourly .............................................................. 71
Pros and Cons – Fixed Fee ......................................................... 71
Other Considerations ...................................................................... 72
Discounts—initially and/or non-profits ...................................... 72
Billable vs. non-billable time...................................................... 73

Chapter 8 - Marketing – Initial Considerations .................................. 75

Develop Your Identity .................................................................... 75
Name ........................................................................................... 75
Website ....................................................................................... 76
Business cards............................................................................. 77
Analyze Competitors ...................................................................... 77
Define the Target Market................................................................ 79

Chapter 9 - Marketing – Methods....................................................... 81

Find-a-ProAdvisor Website ............................................................ 81
Write Articles.................................................................................. 82
Conduct Seminars ........................................................................... 83
Referrals.......................................................................................... 84
Networking ..................................................................................... 85
Ads in Newsletters .......................................................................... 85
Sponsorships ................................................................................... 86
Less Effective Methods................................................................... 86
Trade Shows................................................................................ 87
Traditional Ads ........................................................................... 87
National Survey Results.............................................................. 87

Chapter 10 - Performing the Engagement .......................................... 91

Client Interview .............................................................................. 91
Engagement Letters ........................................................................ 92
Session Form................................................................................... 94
Newsletters or Communications with Clients................................. 94
Invoicing and Collection Procedures .............................................. 96

xiv
 Table of Contents

Chapter 11 - Growing the Business .................................................... 99

Time to Get Help ............................................................................ 99
Control Growth ............................................................................. 101
Moving into an Outside Office ..................................................... 101
Specialization................................................................................ 102
Retirement Plans and Benefits ...................................................... 103
Reevaluate the Structure of Business............................................ 104

Chapter 12 - Common Mistakes Consultants Make ......................... 107

Chapter 13 - Advice from Other ProAdvisors .................................. 111

Chapter 14 - What Consultants Wish They Had Known Sooner...... 123

Chapter 15 - Keys to Success............................................................ 131

Appendix A - National ProAdvisor Survey Results ......................... 141

Appendix B - Intuit 2007 Rates Survey............................................ 149

Appendix C - Profile of Liz Alexander............................................. 155

Appendix D - Profile of Dawn Scranton........................................... 167

Appendix E - Resources.................................................................... 178

xv
 Introduction

Introduction
The number of people who dream about starting or own-
ing their own business continues to grow every year. However,
there is a big difference between dreaming about it and actually
doing it. There are basically four different paths to business
ownership:

Buy an existing business – You become a business

owner right away with this option. You would also ac-
quire existing customers and some name recognition.
But, you will need adequate financial resources available
to fund the acquisition. You also need to find the right
business where the owner is ready to sell.

Buy a franchise – When you buy a franchise, it is like get-

ting a “business in a box.” You are getting brand
recognition in the business name and logo; operating
systems, procedures, and manuals; and support and ad-
vice to help you succeed. It also requires adequate
financial resources (the initial franchise fee can be quite
high), a percentage of your income in the future as royal-
ties, and your business decisions are limited to the
franchisor’s rules.

Inherit a family business – This may or may not be an op-

tion for you.

Start from scratch – This takes more time to get started

and there are many details. If it were easy, everyone
would do it! But, there are a lot of resources available to
help entrepreneurs. You can make all the decisions
based on the business you want to build. You also have
better control over the financial resources and you can
bootstrap to save money.
Successful QuickBooks Consulting

Many people do not have the financial resources avail-

able (or they do not want to risk losing them) to buy an existing
business or a franchise. But, what if you could get many of the
benefits of a franchise without paying a hefty franchise fee or
royalties?

QuickBooks provides national name recognition as the

industry leader, training and support, product discounts, and a
QuickBooks ProAdvisor Program (PAP) that provides technical
support, logos, a referral website, a certification program and
even more benefits. Sounds like an easy decision!

If you build a business around QuickBooks, it will provide

you with a jumpstart and make owning your own business
considerably easier. There are already 3.7 million potential
customers currently using QuickBooks and the number keeps
growing! According to Intuit’s 2006 annual report, there were
“approximately 600,000 new QuickBooks customers in 2006—
up from approximately 400,000 two years ago.”

Plus, there is still a tremendous amount of growth poten-

tial in the market. Intuit estimates that there are approximately
15 million more “small- and medium-sized businesses in the
United States that do not use any specialized accounting soft-
ware.” QuickBooks is by far the industry leader with somewhere
between 85-90% market share of accounting programs for small
businesses.

So, as Intuit continues to spend millions on marketing

and advertising, research and product development, they are
creating new client opportunities for the consultants who support
QuickBooks users. Why not grab onto their coat tails and grow
your business right along with them?

Even though QuickBooks is very user friendly, there is a

continuing need for support and assistance. Many times, small
business owners do not understand accounting systems and
they do not set up QuickBooks properly. Then, after struggling

2
 Introduction

for a period of time (and creating a great big mess of their

records), they realize they need help. Maybe they want some-
one to set it up and train them on how to use it properly.
Sometimes, they want to learn more about the program to utilize
it better and get more information from the system. As a Quick-
Books consultant, you can provide the support, training, and
assistance that they need.

So, the bottom line that many people want to know—can

you make an adequate or reasonable income from QuickBooks
consulting? The simple answer is—yes and no. Yes, there are
many QuickBooks consultants who earn over $50,000 and even
over $100,000 per year from QuickBooks consulting. But, no,
you will not earn that much from the very beginning. Like any
business, it takes time to grow the business and build your
expertise and reputation.

In a National Survey of ProAdvisors (see Appendix A),

consultants were asked what their annual gross income was
from QuickBooks related consulting and their responses are
provided in the following chart.

Annual Gross Income from QuickBooks Consulting

Less than $10,000 23.2%

$10,000 - $25,000 20.0%

$25,000 - $50,000 23.6%

$50,000 - $75,000 13.6%

$75,000 - $100,000 4.0%

more than $100,000 15.6%

0% 5% 10% 15% 20% 25%

% Replied

3
Successful QuickBooks Consulting

However, you should keep in mind that it takes

time to build up your business. Consider the income reported
by the consultants along with the number of years that they
have been providing QuickBooks consulting services in the
following chart.

Years Providing QuickBooks Consulting

Less than 1 13.6%

2 9.4%
3 9.8%
4 6.0%
5 9.4%

6 28.3%
more than 10 23.4%

0% 5% 10% 15% 20% 25% 30%

% Replied

When it comes to start-up costs and financial considera-

tions, there is more good news! You can start a QuickBooks
consulting business without a large financial investment, work
out of your home, and do it part time while keeping your day job.
You probably will not need a loan, have to sign a lease, or have
to worry about payroll or overhead costs if you do not want to!

Now, are you ready to get started? This book will help
guide you along the way, save you time trying to figure things
out, provide useful resources, and help you get started with the
keys to success!

4
 Introduction

National Survey of Certified ProAdvisors

A national survey of Certified ProAdvisors was conducted
in August, 2007 and 267 ProAdvisors responded and completed
the survey (referred to as “National Survey” throughout the
book). Details about the survey, how it was conducted, and all
the charts are in Appendix A. The survey was not a scientific
survey, and there is no validation of the accuracy of the re-
sponses received.

The survey included three open ended questions seeking

comments and advice from the consultants:

What advice do you have for other/new QuickBooks con-

sultants?

What do you wish you would have known sooner or done

differently in your business?

What would you say are the keys to building a successful

QuickBooks consulting business?

There were approximately 300 different comments which

are provided in Chapters 13, 14, and 15. In addition, some of
the responses are included in text boxes throughout the book
(like the one below this paragraph). Many consultants chose
to include their name and contact information with their com-
ments and it has been included when available. However, there
were also many anonymous comments so you will not see a
name with those.

These text boxes are where you will find some ‘keys to success’
from the advice, suggestions, and comments provided in the
National Survey of ProAdvisors.

5
Successful QuickBooks Consulting

6
 Why Specialize in QuickBooks?

Chapter 1

Why Specialize in QuickBooks?

The demand for bookkeeping services, taxes, and other
accounting services is well understood and established. The
traditional public accounting firm provides most of the traditional
accounting services. But, more and more firms (or sole practi-
tioners) are specializing in a niche and creating a boutique firm
as a method of differentiation. The niche may be based upon a
type of client and specific industries or the focus may be on a
specific service provided such as tax planning and preparation.

Can you or your firm specialize in QuickBooks consulting

for your niche? Is there sufficient market opportunity in Quick-
Books consulting? Can it be a viable revenue stream that is not
as seasonal as tax preparation? Does this area offer enough
market potential financially? There are several factors to con-
sider before you decide to specialize in QuickBooks
consulting—potential clients, types of services possible, support
and resources available, as well as income potential.

“The need for competent QuickBooks consulting is much higher

than initially assumed.”

Increasing Number of Potential Clients

New businesses
Did you know that there are as many people starting a
new business as there are people getting married or having a
baby? In 2005, there were approximately 464,000 people
7
Successful QuickBooks Consulting

starting a new business each month according to The Kauffman

Index of Entrepreneurial Activity. People of all ages and demo-
graphics are starting new businesses in every region of the
country. Increasing numbers of baby boomers are starting their
own business. This entrepreneurship boom has also spurred
many new businesses supporting and helping the other small
businesses start and grow—like Quickbooks consulting.

One of the problems entrepreneurs and new business

owners face is the recordkeeping required. The Internal Reve-
nue Service requires that each of these new businesses
maintains adequate records. If a bank loan or financing are
involved, additional reporting and recordkeeping will be re-
quired. As a result, there is always a continuous supply of
potential new clients that need help setting up and maintaining
an accounting system utilizing a program such as QuickBooks.

Existing businesses
In addition to new businesses, in 2006, already about 3.7
million active QuickBooks users existed representing potential
clients for QuickBooks consultants. Plus, there is room for
continued market penetration into existing businesses. Intuit’s
2006 annual report estimates “that approximately 60% of the 26
million small- and medium-sized businesses in the U.S. don’t
use any specialized accounting software.” Thus, ample oppor-
tunity exists to obtain clients from existing businesses that finally
realize the need for a program such as QuickBooks.

It is amazing the number of existing businesses that still

keep their accounting records manually or use Excel spread-
sheets and Word invoices. More and more of these businesses
are turning to QuickBooks to simplify their recordkeeping and
save time. QuickBooks Simple Start allows these types of
businesses to start using a computerized accounting program
and see the benefits. Then, as they become more comfortable
it is easy to upgrade them to QuickBooks Pro or Premier.

8
 Why Specialize in QuickBooks?

Opportunities to Provide Services

A QuickBooks consultant can support these millions of
small businesses starting with the initial set up of QuickBooks.
The consultant may provide training to the owner and/or em-
ployees on the proper way to enter transactions. In addition,
there is a wealth of opportunities for trouble-shooting and fixing
the mistakes and problems clients have with their data files.
The consultant can also offer suggestions to track additional
information (creating types of customers, tracking additional
custom field, and more) that will provide the owner and man-
agement with additional information for marketing, strategic
planning, and more.

Additionally, growing businesses often outgrow their ini-

tial accounting system. This provides the consultant with the
opportunity to help clients determine their needs, redefine
processes and procedures, and implement a new accounting
system. Intuit has created the family of programs to grow with
the business. It is possible to start with QuickBooks Simple
Start, move up to QuickBooks Pro and/or Premier, and ulti-
mately to QuickBooks Enterprise. This allows the consultant the
opportunity to continue providing services to clients for many
years.

Why QuickBooks vs. Other Programs?

Industry Leader

QuickBooks is the undisputed industry leader with 85-

90% market share. As a consultant, why not associate yourself
with the industry leader that provides significantly more potential
clients than the others. Do you really have the time and inclina-
tion to maintain an expert knowledge base in more than one
program, or would it be better to focus on the most widely used
program—QuickBooks?

9
Successful QuickBooks Consulting

In addition, potential customers will often ask other busi-

ness owners, friends, or associates what they use for their
accounting, which is most often some version of QuickBooks. It
is easier for the customer to get the support and help they need
if they choose QuickBooks as opposed to another program.
They can get help from the many other users, QuickBooks
(Intuit’s) support options, or a QuickBooks ProAdvisor.

“Don't be a consultant on all software out there, dedicate to it so

you can really provide quality services. If you are in over your
head, admit it and get help.”

QuickBooks ProAdvisor Program (PAP)

The QuickBooks ProAdvisor Program is for CPAs, ac-

countants, bookkeepers and consultants at a modest fee
(currently $449 per year as of this printing) to help us in a
variety of ways. Your annual membership fee includes Quick-
Books Premier Accountant edition, a one-user edition of
QuickBooks Enterprise, as well as the following benefits:

Technical Support – a dedicated phone number that is

available 24/7 so you always have a partner to consult
with on technical questions.

Certification – a way to differentiate yourself and improve

your knowledge base. This is covered in greater detail in
Chapter 4 on Improving Your Knowledge Base.

Find-a-ProAdvisor Website – a great way to get new cli-

ents at no additional cost!

Resources – articles, webinars, and more to help you

market and grow your practice, train your clients, and
more.

10
 Why Specialize in QuickBooks?

Community Boards – another great way to get support

and help and you can learn a lot by reading the questions
and answers from others.

Software – in addition to the programs mentioned above,

you can get trial versions free to give to clients (or poten-
tial clients).

There are more details on the QuickBooks ProAdvisor

Program (PAP) and the benefits at the website: account-
ant.intuit.com. If you want to be a QuickBooks consultant, you
really should join the it—you need the software every year
anyway, and it is included with your annual membership fee.

Microsoft’s accounting programs

Microsoft has made several attempts over the years to

gain market share in the area of small business accounting
programs, but they have been unable to truly challenge Quick-
Books’ leadership position. Their most recent attempt is with
Microsoft Office Accounting Professional 2007 (Accounting
2007) and a more limited version called Accounting Express
2007 (which they offer for free).

Microsoft is trying to emphasize that Accounting 2007 in-

tegrates with Word, Excel, and Outlook. However, QuickBooks
also integrates with these programs. Accounting 2007 has a
similar look and feel to the older versions of QuickBooks (2005
and prior). However, it appears that these programs still lack
the depth and sophistication of QuickBooks.

Peachtree by Sage

Peachtree was once a widely used accounting program

and the favorite of accountants. However, QuickBooks pro-
duced a more user-friendly program with icons and flowcharts
that is more appealing to users without an accounting back-
ground. Over the years, QuickBooks added more and more
features to its program and listened to the recommendations

11
Successful QuickBooks Consulting

from accountants. As QuickBooks gained market share, Peach-

tree lost market share.

Many accountants still like Peachtree and are comfort-

able using it; many colleges and universities still use it in their
accounting programs. However, the reality is that not that many
businesses still use Peachtree and the number continues to
decline. Thus, the number of potential clients is significantly
smaller and declining—not a great market opportunity!

Numerous businesses have already converted from

Peachtree to QuickBooks. As businesses upgrade their com-
puter and accounting system, they are switching to QuickBooks.
When looking for help, they find that there are very few certified
consultants for Peachtree (search the Peachtree website for a
consultant in your city and compare the difference to a search
for a QuickBooks ProAdvisor). In fact, the number of Peachtree
consultants worldwide is less than one-half of one percent when
compared to the number of QuickBooks ProAdvisors.

QuickBooks Consulting with Other Account-

ing Services
QuickBooks consulting is a natural extension of services
for a traditional accounting practice. Many QuickBooks consult-
ants also provide tax preparation and bookkeeping services. In
contrast to tax preparation, QuickBooks consulting is not as
seasonal and can provide income year round. The following
chart shows the other services consultants provide based on
their responses in the National Survey of ProAdvisors.

12
 Why Specialize in QuickBooks?

Other Services Provided

Bookkeeping 82.4%

Write up 58.6%

Tax preparation 67.2%

Audits & Reviews 23.4%

CFO Services 27.1%

IT Consulting 23.0%

Other -- please explain 18.4%

0% 20% 40% 60% 80% 100%

% Replied

Some accountants are reluctant to support clients doing

their own bookkeeping, thinking they would lose the income
from providing those services. However, that is a short-term
viewpoint. If clients are trained to use QuickBooks, they still will
need accounting advice for taxes, depreciation, buying and
selling assets, and a host of other issues that arise. In addition,
as their business grows or employees are added, they may
need assistance training new bookkeepers, learning payroll,
upgrading to another version of QuickBooks, or more financial
and managerial consulting. You can also assist clients with
sales tax returns, internal controls consulting, third-party soft-
ware integration, and quarterly check ups. So you will probably
not lose clients, but instead will change the type of services that
are being provided.

As clients gain knowledge and understanding of their

own accounting, there also may be more opportunity to provide
other financial advice and management consulting services to
those clients. The consulting services most likely will have a
higher billing rate than the bookkeeping services and can
13
Successful QuickBooks Consulting

replace the lost income from the bookkeeping services previ-

ously provided for clients. In addition, you may find that you
become a more trusted advisor to clients rather than merely
providing them with bookkeeping services. This in turn can lead
to more referrals from clients since you are looking out for their
best interests and not merely your own fees.

14